Rwanda Successfully Issued a 7 year Fixed Coupon Treasury Bond Worth Frw 10 Billion

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Rwanda through its Central Bank has successfully issued a 7 year bond worth 10 billion Rwandan francs, as part of its regular quarterly issuance plan.

The issuance has been successful with a subscription level of 113.03 percent, with 58 applicants received from different categories of investors.

BNR employed book-building method to price the bond. The book was opened on Monday may 22, and closed on Wednesday may 24, 2017 as previously communicated in the prospectus.

The initial price guidance was announced at upper 12s which was later revised and the final price was announced at par with a yield of 12.675 percent.

The coupon will be paid semi-annually and the bond will be listed on Thursday may 30, at the Rwanda stock exchange.

The  Governor of the Central Bank, John Rwangombwa says “this success is attributed to ongoing awareness campaigns across the country aimed at educating the population the culture of saving and benefits of investing in government Treasury bond”.

Rwangombwa  noted that as a result, retailers and individual investor’s participation was 5.86 percent of which foreign investors were allocated 2.41 percent.

Banks and non-financial institutional investors were also allocated 10 percent and 84.14 percent of total amount offered respectively.

The next issuance will be on August 21, 2017.



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